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Village Bank and Trust Financial Corp. (OQ:VBFC)

Business Focus: Banks

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 13319 Midlothian Turnpike
MIDLOTHIAN VA 23113
Tel: 1-804-8973900
Website: https://www.investors.villagebank.com/corporate-profile/default.aspx
IR: See website
Key People
James E. Hendricks
President, Chief Executive Officer, Director
Donald M. Kaloski
Chief Financial Officer, Executive Vice President, Chief Risk Officer of the Bank
James Clifton Winn
President, Chief Executive Officer of Village Bank Mortgage Corporation
Roy I. Barzel
Executive Vice President, Chief Credit Officer of the Bank
Jennifer J. Church
Executive Vice President - Retail Banking of the Bank
Max C. Morehead
Executive Vice President - Commercial Banking of the Bank
Christy F. Quesenbery
Executive Vice President - Operations of the Bank
   
Business Overview
Village Bank and Trust Financial Corp. is a bank holding company whose activities consist of investment in its wholly owned subsidiary, Village Bank (the Bank). The Bank is a full-service chartered community bank. The Bank has nine branch offices. The Bank offers a range of banking and related financial services, including checking, savings, certificates of deposit and other depository services, and commercial, real estate and consumer loans, primarily in the Richmond, Virginia and Williamsburg, Virginia metropolitan areas. The Company has two segments: traditional commercial banking and mortgage banking. The traditional commercial banking segment provides the mortgage banking segment with the short-term funds needed to originate mortgage loans through a warehouse line of credit and charges the mortgage banking segment interest based on the commercial banking segment's cost of funds. The mortgage banking segment leases premises from the commercial banking segment.
Financial Overview
For the three months ended 31 March 2024, Village Bank and Trust Financial Corp. interest income increased 23% to $9.3M. Net interest income after loan loss provision decreased 2% to $6.2M. Net income increased 15% to $1.8M. Net interest income after loan loss provision reflects decrease in interest earning assets and increase in interest bearing liabilities. Dividend per share increased from $0.16 to $0.18.